European Founders Fund backs virtual world for kids creator Dizzywood

European Founders Fund backs virtual world for kids creator Dizzywood

The European Founders Fund, the investment vehicle of the infamous Samwer brothers, puts money in social networking sites other than Facebook. According to a regulatory filing picked up by peHUB, the EFF has invested $1 million in Series A-1 funding for Dizzywood, a San Francisco-based creator of entertainment websites for kids.

“Dizzywood is a fun virtual world for kids where you can play free games, explore unique and imaginative areas, and meet new friends in a safe environment. Whether it’s a visit to a Mayan-themed jungle or a super power challenge to defeat Emperor Withering, Dizzywood offers children ages 8-12 the opportunity to create their own adventure, cooperate with other players in exciting games and challenges, and have fun while learning.”

Virtual worlds for kids is certainly a hot space: both RocketOn and Knowledge Adventure recently raised $5 million second rounds, Gaia Online took $11 million in a third round and Disney recently acquired Club Penguin for $350 million (with $350 million in earn out).

Dizzywood won the Best in Show Award at the 2008 Under the Radar Conference. Last February, TechCrunch reported that the company had raised $1 million Series A in a round led by Shelby Bonnie with Charles River Ventures with other individual investors also participating.

Dizzywood has notable founders, including Scott Arpajian, who headed CNet’s for over a decade in the past, ex-Microsoftie and former Wallop CTO Sean Uberoi Kelly and Ken Marden.

(Hat tip to Paidcontent)

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